I have client who has a partnership. It went out of business in 2009. However she is stuck in her lease and still has to pay rent. She paid rent for all of 2010. Would she still be entitled to take deprecitaion on her equipment and building. This is my first go around with a partnership. Sorry for all of the questions today. Thanks you guys are great. I would think she is not entitled to the depreciation.
Announcement
Collapse
No announcement yet.
Partnership
Collapse
Disclaimer
Collapse
This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.